What Is the Greece Golden Visa? Who Can Apply and How Does the Process Work?

In recent years, the Greece Golden Visa program has been one of the most talked-about topics among investors seeking residency in European Union countries. Offering residency in return for a real-estate investment, the program attracts investors from many countries — Türkiye above all — thanks to both its low investment thresholds and easy access to the Schengen area. So what exactly is the Greece Golden Visa, who can apply, and how does the process work? In this article we cover all the details step by step.

What Is the Greece Golden Visa?

The Greece Golden Visa, officially the "Golden Visa" program, is a program that grants residency to foreign investors and their families in return for investing above a certain amount in real estate or another investment instrument in Greece. Introduced in 2013, it is one of the investment-for-residency models created by the Greek government to attract foreign capital to the country.

The residence permit obtained under the program grants its holder the right to reside indefinitely in Greece and to travel visa-free within the Schengen area. Because the Greece Golden Visa grants residency without requiring a work permit, it is particularly popular among retirees, remote workers and investors.

How Does the Greece Golden Visa Work?

The program is based on a fundamentally simple logic: an investment of the minimum required amount is made, the necessary documents are prepared, and the application is submitted to the Greek immigration authorities. Once the application is approved, the investor and their family members receive a 5-year, renewable residence permit.

Accepted Investment Types

Although real-estate investment is the most preferred route in a Greece Golden Visa application, the program also offers different investment options:

• Purchase of residential or commercial real estate
• Capital investment in Greek companies
• Purchase of government bonds
• Bank deposit (under certain conditions)
• Participation in investment funds

The vast majority of investors choose the real-estate option, both to own a tangible asset and to earn rental income.

Duration and Renewal of the Residence Permit

The residence permit granted under the Greece Golden Visa is valid for 5 years. Provided the investment is maintained, the permit can be renewed indefinitely at the end of the period. In other words, as long as the property is not sold, the residence permit remains valid.

Who Can Apply for the Greece Golden Visa?

Citizens of all non-EU countries can apply to the Greece Golden Visa program. Turkish citizens are among the most active groups benefiting from the program. There is no specific age, profession or education requirement for the application; the basic condition is being able to meet the required investment amount and to document a legal source of income.

Requirements for the Main Applicant

Can Family Members Be Included in the Application?

One of the most attractive aspects of the Greece Golden Visa program is that it can cover a large family with a single investment. The people who can be included in the application are:

• The applicant's spouse
• Children under 21
• The parents of the applicant and their spouse (under certain conditions)

This way, multiple family members can gain the right to residency through the same investment, making the program especially advantageous for families with children.

Minimum Investment Amount for the Greece Golden Visa

The investment amount varies depending on the region where the property is located. The table below summarises the current investment thresholds:

Since investment amounts can be updated from time to time, it is recommended to confirm the current figures through an expert before applying.

Basic Documents Required for the Application

Although the documents requested during a Greece Golden Visa application may vary slightly from person to person, generally the following documents are required:

• Copy of a valid passport
• Criminal record certificate
• Health insurance policy
• Property sales contract or investment document
• Bank statements and declaration of the source of income
• Biometric photo
• Power of attorney (if applying through a lawyer)

How Does the Greece Golden Visa Application Process Work?

Step-by-Step Application Stages

1. Making the investment decision: The region and property suited to your budget and goals are determined.
2. Preliminary review and due diligence: The property's title, zoning and debt status are checked.
3. Signing the sales contract: The official sale is completed before a notary.
4. Obtaining a tax number (AFM): A Greek tax number is issued in the investor's name.
5. Preparing the application file: The necessary documents are brought together.
6. Submitting the application: The file is forwarded to the relevant immigration office.
7. Biometric data collection: The fingerprints and photographs of the applicant and family members are taken.
8. Delivery of the residence permit: After approval, the residence permit is delivered in card form.

Average Duration of the Process

If the documents are complete and the property transactions proceed smoothly, the process is usually completed within 2 to 6 months. This period may be longer during busy times.

Advantages of the Greece Golden Visa

• Visa-free travel within the Schengen area
• Right of residence without any obligation to work
• Family members having the same rights
• The opportunity to own property and earn rental income in return for the investment
• The possibility of transitioning to citizenship in the long term
• The option to live, study and spend retirement in Greece

Things to Consider Before Applying

Before making a Greece Golden Visa application, it is very important to carefully examine the legal status of the property, to work with a reliable lawyer or advisory firm, and to follow current changes in investment amounts. It should also be remembered that, in order to maintain the residence permit, the property must be held for at least five years.

Frequently Asked Questions

Can you get citizenship with the Greece Golden Visa?
No, the program does not grant citizenship directly; however, if you actually reside in the country for a certain number of years, it may open a path to a citizenship application.

What is the minimum investment amount for the Greece Golden Visa?
While it varies by region, the amounts range from €250,000 to €800,000.

Can Turkish citizens apply for the Greece Golden Visa?
Yes, Turkish citizens can apply to this program as non-EU country citizens.

Can Greece Golden Visa holders work in Greece?
A standard Golden Visa residence permit does not grant the right to work; however, employment may be possible by obtaining a separate work permit.

How long is the residence permit valid?
The first residence permit is valid for 5 years and can be renewed as long as the investment is maintained.

Can family members also be included in the application?
Yes, the spouse, children under 21 and, under certain conditions, parents can also be included in the application.

Is it mandatory to physically reside in Greece?
No, there is no requirement to live in the country continuously in order to maintain the residence permit.

How long does the application process take on average?
If the documents are complete, the process is usually completed within 2 to 6 months.

Can only real estate be chosen for the investment?
No, in addition to real estate, options such as company investment, government bonds or bank deposits are also available.